A total of 6,244 home sales were transacted through the Toronto Regional Real Estate Board’s (TRREB) MLS System in May 2025, a 13.3% decline from one year earlier. On a seasonally adjusted basis, May home sales were up from the 5,601 transactions recorded in April.
While year-over-year sales declined, new listings were entered into the MLS System amounted to 21,819, a 14% increase from May 2024. This marked the second monthly increase in a row. New listings were also up compared to the 18,836 entered into the system during April.
The MLS Home Price Index Composite benchmark was down by 4.5% year-over-year in May while the average selling price of $1.12 million was 4% below the level set one year before. On a month-over-month seasonally adjusted basis, the MLS HPI Composite and average selling price both edged up compared to April.
“With the federal government’s housing commitments reiterated in the Throne Speech, we now need concrete actions that will restore housing affordability across the GTA and the rest of Canada,” said TRREB CEO John DiMichele, referring to the recent address by King Charles III before the Canadian Parliament. “This includes lowering high housing taxes and fees, embracing innovative construction technologies, and streamlining processes to reignite the construction of homes. Home construction is associated with huge economic benefits that would help mitigate the negative impact of ongoing trade disputes. Additionally, with inflation remaining low, a rate cut would be a welcome move—particularly for first-time buyers and those renewing their mortgages.”
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